Lender says many renters would save money by buying their own property

[Nicholas Wallwork]

Many potential first time buyers in the UK would be better off buying a*property rather than continuing to rent, according to research from Abbey*Mortgages.

The figures show that those living outside of London pay an average*monthly rent of £434, while the monthly mortgage payment for buyers with a*25% deposit is £382, based on a rate of 4.39% over a 25-year term.

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